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June 19, 2017updated 20 Jan 2022 7:28am

NPCI to roll out RuPay-branded credit cards in India

The National Payments Corporation of India (NPCI) is set to roll out its RuPay-branded credit cards in a month’s time.

NPCI, which currently provides RuPay debit cards, has teamed up with nearly 10 banks for the use of Rupay credit cards among their customers under a pilot project.

The banks, which are collaborating with the NPCI on the credit card, include public sector banks and cooperative banks.

The RuPay credit card will be available in four variants: Select, a premium card; Platinum which offers certain limitations compared to the high end model; and Classic, the lowest limit card; as well as RuPay Mudra Card.

Select, the high-end variant of the RuPay credit card, will provide an insurance cover of INR1 million ($15,700) and it will be accepted across the globe.

NPCI, which acts as the nodal agency for digital payments in the country, said that it will introduce new products, including as a tap-and-go transit card.

Additionally, the company is also working on a range of near field communication (NFC) systems that would be ready in next six to nine months.

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